177 abandoned private housing projects until May

KUALA LUMPUR (June 26, 2012): A total of 177 housing projects carried out by private developers have been abandoned until May 31, the Dewan Rakyat was told today.
Deputy Housing and Local Government Minister Datuk Seri Lajim Ukin said of this number, 103 projects are ready for occupation, 58 projects are undergoing rehabilitation and there are discussions to revive the remaining projects.
"The government regards this problem seriously and is committed to helping buyers of abandoned projects. The ministry has carried out various efforts to tackle this issue," he said in reply to a question from Datuk Ismail Kasim (BN-Arau) who asked on the number of abandoned private housing projects and government measures to revive them.
Lajim said among efforts taken by the ministry include identifying capable and experienced developers to take over the projects, carrying out negotiations with quarters involved to find the best solution as well as monitoring the project's rehabilitation.
Meanwhile, he said to assist buyers the ministry has issued abandoned housing project verification letters to end-fnanciers for banks to reduce interest rates and restructure loans. – Bernama

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